Today Silver Price 31-January-2021 Silver Price in India, Today Silver Rates in India :
Silver Play a Major role in Indian culture, considered a store of value, a symbol of wealth and status and a fundamental part of many rituals. Among the country’s rural population, a deep affinity for Silver goes hand in hand with practical considerations of the portability and security of jewellery as an investment. Silver is considered to be auspicious, particularly in Hindu and Jain cultures. The ancient law-giver Manu decreed that Silver ornaments should be worn for important ceremonies and occasions. Aside from Diwali, one of the most important dates in the Indian calendar, regional festivals across the country are celebrated with Silver: in the east, Durga Puja; in the west, Gudi Pavda; in the north, Baisakhi and Karva Chauth.in the south, Akshaya Tritiya, Pongal, Onam and Ugadi and Other festivals.
31-January-2021 Silver Price in India
Silver is a chemical element with the symbol Ag (from the Latin argentum, derived from the Proto-Indo-European h₂erǵ: “shiny” or “white”) and atomic number 47. A soft, white, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. The metal is found in the Earth’s crust in the pure, free elemental form (“native silver”), as an alloy with Silver and other metals, and in minerals such as argentite and chlorargyrite. Most silver is produced as a byproduct of copper, Silver, lead, and zinc refining. Silver has long been valued as a precious metal. Silver metal is used in many bullion coins, sometimes alongside Silver while it is more abundant than Silver, it is much less abundant as a native metal Its purity is typically measured on a per-mille basis; a 94%-pure alloy is described as “0.940 fine”. The Indian market offers to invest in commodities like Silver and Silver beyond the ordinary shares, real estate, and bonds. The commodity markets are stable than the equity and mutual funds. This is a viable option regarding an investment that is safe.
31-January-2021 Silver Rates in India
The price of Silver keep changing from day to day based on the market rate. All jewellery stores display the daily bullion rates for the consumers, so check today silver rates in India
|Gram||Silver Rate -Today||Silver Rate-Yesterday|
|1 gram||Rs 67.90||Rs 67.98|
|10 gram||Rs 679||Rs 679.80|
Silver was one of the seven metals of antiquity that were known to prehistoric humans and whose discovery is thus lost to history. In particular, the three metals of group 11, copper, silver, and gold, occur in the elemental form in nature and were probably used as the first primitive forms of money as opposed to simple bartering. However, unlike copper, silver did not lead to the growth of metallurgy on account of its low structural strength, and was more often used ornamentally or as money. Since silver is more reactive than gold, supplies of native silver were much more limited than those of gold For example, silver was more expensive than gold in Egypt until around the fifteenth century BC: the Egyptians are thought to have separated gold from silver by heating the metals with salt, and then reducing the silver chloride produced to the metal.
All the precious metals, Silver is the most popular as an investment.Investors generally buy Silver as a way of diversifying risk, especially through the use of futures contracts and derivatives. The Silver market is subject to speculation and volatility as are other markets. Compared to other precious metals used for investment, Silver has been the most effective safe haven across a number of countries.
The price of silver is driven by speculation and supply and demand, like most commodities. The price of silver is notoriously volatile compared to that of gold because of the smaller market, lower market liquidity and demand fluctuations between industrial and store of value uses. At times, this can cause wide-ranging valuations in the market, creating volatility.Physical bullion in coins or bars may have a premium of 20 percent or more when purchased from a dealer. Silver bullion bars have been available for purchase at a premium of less than 7% over the Comex spot price for much of 2015 and early 2016, while government-minted coins still command a much higher premium.